Nearly 84% of Binance-listed altcoins are trading below the 200-day moving average. CryptoQuant's Darkfost says the crash may offer buying opportunities in the altcoin market.
Nearly 84% of altcoins listed on Binance are trading below their 200-day moving average (DMA). That is, almost 9 out of 10 altcoins are technically still in a bear market.
According to CryptoQuant data, this underperformance has continued for eight months, raising questions about whether the next altcoin season is fading or if this is a buying opportunity.
Darkfost, a crypto market analyst, used CryptoQuant data to highlight the altcoin market’s bearish posture. The 200-DMA is a key indicator that traders use to measure the market's long-term trend, it is often used as a technical level for prices.
Darkfost’s chart shows this weakness has continued for almost eight months, making it the second-longest period of altcoin underperformance since 2020. The only longer stretch came during the last crypto bear market, when the weakness lasted for around 10 months.
The data also shows that altcoins have closely followed Bitcoin throughout this cycle.
However, when Bitcoin bounced back several times, most altcoins failed to recover, leaving the majority of the market stuck in a long period of weak price action.
This bearish long market slowdown has hit altcoins the hardest. Since October 2025, the total value of the altcoin market has fallen by nearly $1 trillion, dropping to around $849 billion.
At the same time, TOTAL2, an index that tracks all cryptocurrencies except Bitcoin, has closed below its 200-day moving average on the weekly chart. This shows that the overall altcoin market is still weak, and selling pressure remains strong.
Despite the bearish market structure, Darkfost says that the current altcoin conditions should not automatically be viewed as the end of the altcoin market.
As per his analysis, previous periods when a large majority of altcoins traded below their 200 day moving averages have often been followed by medium-term recovery opportunities.
However, he noted that this cycle is likely to reward careful asset selection rather than broad exposure to every altcoin.
Instead of expecting the entire market to recover together, investors may need to focus on projects with stronger fundamentals, active development, and sustained user demand.
Another crypto market researcher, Crypto King, believes Bitcoin dominance could provide the next clue for altcoins.
He says that Bitcoin dominance and altcoin dominance are now approaching levels similar to those seen before the 2021 altcoin rally.
After Bitcoin dominance broke a major long-term trendline in July 2025, the market has spent roughly 11 months consolidating, a pattern that resembles the setup before capital rotated into altcoins during the previous cycle.
While most altcoins remain under heavy selling pressure, tokenized stocks are growing much faster than many expected. According to Binance, its bStocks platform reached $100 million in assets under management (AUM) within just 15 days of launch.
Trading activity has also been strong, with cumulative volume crossing $458 million. Nearly 47% of all trades happened outside U.S. market hours, showing strong demand for 24/7 trading.
More than 80% of transactions were fractional trades, highlighting growing investor interest in tokenized real-world assets even as the broader altcoin market continues to struggle.
This trend highlights how rapidly tokenized real world assets have gained global traction during mid-2026.
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